W. P. Carey Inc. Announces Pricing of $400 Million of Senior Unsecured Notes
W. P. Carey (NYSE: WPC), a leading diversified REIT, has announced the pricing of $400 million in Senior Notes due 2030 with a 4.650% interest rate. The notes were priced at 99.088% of principal value, with interest payments scheduled semi-annually starting January 15, 2026.
The offering is expected to settle on July 10, 2025. The company plans to use the proceeds to repay existing debt, including a portion of its $2.0 billion unsecured revolving credit facility, and for general corporate purposes. Wells Fargo Securities, BofA Securities, Scotia Capital, and Mizuho Securities USA served as joint book-running managers for the offering.
W. P. Carey (NYSE: WPC), un importante REIT diversificato, ha annunciato il prezzo di 400 milioni di dollari in Senior Notes con scadenza 2030 e un tasso di interesse del 4,650%. Le obbligazioni sono state quotate al 99,088% del valore nominale, con pagamenti degli interessi previsti su base semestrale a partire dal 15 gennaio 2026.
L'offerta dovrebbe concludersi il 10 luglio 2025. La societ脿 prevede di utilizzare i proventi per rimborsare il debito esistente, inclusa una parte della sua linea di credito revolving non garantita da 2,0 miliardi di dollari, e per scopi aziendali generali. Wells Fargo Securities, BofA Securities, Scotia Capital e Mizuho Securities USA hanno agito come gestori congiunti dell'offerta.
W. P. Carey (NYSE: WPC), un destacado REIT diversificado, ha anunciado la fijaci贸n del precio de 400 millones de d贸lares en Notas Senior con vencimiento en 2030 con una tasa de inter茅s del 4.650%. Las notas se valoraron al 99,088% del valor principal, con pagos de intereses programados semestralmente a partir del 15 de enero de 2026.
Se espera que la oferta se liquide el 10 de julio de 2025. La compa帽铆a planea utilizar los ingresos para pagar deudas existentes, incluyendo una parte de su facilidad de cr茅dito revolvente no garantizada de 2.000 millones de d贸lares, y para fines corporativos generales. Wells Fargo Securities, BofA Securities, Scotia Capital y Mizuho Securities USA actuaron como administradores conjuntos del libro de la oferta.
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W. P. Carey (NYSE : WPC), un important REIT diversifi茅, a annonc茅 le prix de 400 millions de dollars en obligations senior 茅ch茅ant en 2030 avec un taux d'int茅r锚t de 4,650%. Les obligations ont 茅t茅 fix茅es 脿 99,088% de la valeur nominale, avec des paiements d'int茅r锚ts semestriels 脿 partir du 15 janvier 2026.
L'offre devrait 锚tre r茅gl茅e le 10 juillet 2025. La soci茅t茅 pr茅voit d'utiliser les fonds pour rembourser sa dette existante, y compris une partie de sa ligne de cr茅dit renouvelable non garantie de 2,0 milliards de dollars, ainsi que pour des besoins g茅n茅raux d'entreprise. Wells Fargo Securities, BofA Securities, Scotia Capital et Mizuho Securities USA ont agi en tant que chefs de file conjoints de l'offre.
W. P. Carey (NYSE: WPC), ein f眉hrender diversifizierter REIT, hat die Preisfestsetzung von 400 Millionen US-Dollar Senior Notes mit F盲lligkeit 2030 und einem Zinssatz von 4,650% bekannt gegeben. Die Notes wurden zu 99,088% des Nennwerts bepreist, mit halbj盲hrlichen Zinszahlungen ab dem 15. Januar 2026.
Die Emission soll am 10. Juli 2025 abgewickelt werden. Das Unternehmen plant, die Erl枚se zur R眉ckzahlung bestehender Schulden, einschlie脽lich eines Teils seiner 2,0 Milliarden US-Dollar unbesicherten revolvierenden Kreditfazilit盲t, sowie f眉r allgemeine Unternehmenszwecke zu verwenden. Wells Fargo Securities, BofA Securities, Scotia Capital und Mizuho Securities USA fungierten als gemeinsame Bookrunner der Emission.
- Strategic debt management through new note issuance at 4.650% interest rate
- Strengthening of balance sheet by refinancing existing debt
- Successful placement of $400 million offering indicating strong market confidence
- Additional long-term debt obligation with 4.650% interest burden
- Notes priced at a discount (99.088% of principal amount)
Insights
WPC's $400M note offering improves debt structure while maintaining leverage, providing flexibility in a high-rate environment.
W. P. Carey's
The company is primarily using these proceeds to pay down their revolving credit facility, which effectively transforms short-term, potentially variable-rate debt into longer-term fixed-rate debt. This debt ladder extension insulates WPC from near-term interest rate volatility while maintaining their overall leverage ratio, as this appears to be a refinancing rather than net debt addition.
For a REIT with a substantial portfolio of net leased industrial, warehouse and retail properties, this debt management approach aligns well with their long-term lease structure. Their net lease portfolio typically features built-in rent escalators that can help offset the fixed interest expenses over time.
The slight discount to par (offered at
This offering demonstrates WPC's continued access to public debt markets and ability to manage their capital structure effectively. For a REIT that relies on external capital for growth, maintaining diverse funding channels remains crucial for executing their investment strategy in commercial real estate.
Interest on the Notes will be paid semi-annually on January 15 and July 15 of each year, beginning on January 15, 2026. The offering of the Notes is expected to settle on July 10, 2025, subject to customary closing conditions. The Company intends to use the net proceeds from this offering to repay certain indebtedness, including a portion of amounts outstanding under its
Wells Fargo Securities, LLC, BofA Securities, Inc., Scotia Capital (
A registration statement relating to the Notes has been filed with the Securities and Exchange Commission (the "SEC") and has become effective under the Securities Act of 1933, as amended (the "Securities Act"). The offering is being made by means of a prospectus supplement and prospectus.听Before making an investment in the Notes, potential investors should read the prospectus supplement and the accompanying prospectus for more complete information about the Company and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC's website at听. Alternatively, potential investors may obtain copies, when available, by contacting: Wells Fargo Securities, LLC toll-free at 1-800-645-3751,听BofA Securities, Inc. toll-free at 1-800-294-1322 or Scotia Capital (
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering and the accompanying prospectus.
W. P. Carey Inc.
W. P. Carey Inc. is an internally-managed diversified REIT and a leading owner of commercial real estate, net leased to companies located primarily in
Forward-Looking Statements
Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The forward-looking statements include, among other things, statements regarding: expectations regarding the use of proceeds of this offering and the settlement date. Forward looking statements are generally identified by the use of words such as "may," "will," "should," "would," "will be," "will continue," "will likely result," "believe," "project," "expect," "anticipate," "intend," "estimate" "opportunities," "possibility," "strategy," "plan," "maintain" or the negative version of these words and other comparable terms. These forward-looking statements include, but are not limited to, statements that are not historical facts.
These statements are based on the current expectations of the Company's management, and it is important to note that the Company's actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Other unknown or unpredictable risks or uncertainties, like the risks related to fluctuating interest rates, the impact of inflation and tariffs on our tenants and us, the effects of pandemics and global outbreaks of contagious diseases, and domestic or geopolitical crises, such as terrorism, military conflict, war or the perception that hostilities may be imminent, political instability or civil unrest, or other conflict, and those additional risk factors discussed in reports that we have filed with the SEC, could also have material adverse effects on our future results, performance, achievements, or transactions. Information on factors that could impact actual results and cause them to differ from what is anticipated in the forward-looking statements contained herein is included in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as filed with the SEC on April 30, 2025, as well as in the Company's other filings with the SEC, including but not limited to those described in Part I, Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as filed with the SEC on February 12, 2025. Moreover, because the Company operates in a very competitive and rapidly changing environment, new risks are likely to emerge from time to time. Given these risks and uncertainties, potential investors are cautioned not to place undue reliance on these forward-looking statements as a prediction of future results, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, the Company does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.
Institutional Investors:
Peter Sands听
W. P. Carey Inc.
212-492-1110
[email protected]
Press Contact:
Anna McGrath
W. P. Carey Inc.
212-492-1166
[email protected]
听
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FAQ
What is the size and interest rate of W. P. Carey's (WPC) new senior notes offering?
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